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Missouri Legislation Would Bump State HTC Percentage for Certain Properties

Wednesday, December 7, 2022 - 12:00PM

Legislation pre-filed in the Missouri House of Representatives would increase the applicable percentage for the state historic tax credit (HTC) for certain properties. The Missouri HTC is 25%, but H.B. 316 would increase that to the lesser of 50% or $500,000 for the rehabilitation of essential community or heritage facilities and to 35% for properties that don’t receive the state low-income housing tax credit (LIHTC), but are in a qualifying county (those up to 1 million residents, except for counties of 700,000 to 800,000 residents). Other applicable percentages would remain the same, although the bill allows any taxpayer to receive the credit for the rehabilitation of an essential community or heritage facility, while nonprofits would be ineligible for other properties.

The Novogradac Introduction to Historic Tax Credits booklet provides an introduction to the basics of the HTC incentive on both the state and national level.

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